W!SE Review Money Management

An asset that declines in value.

Where would you NOT want to keep important documents or records?

If you have more debts than assets. Not a good thing!

A savings strategy (save 10% each month) - you are the first expense in budget!

What is net worth?

When you spend more money than budgeted and don't have enough income to cover expenses.

Outstanding debt that you owe such as loans.

Expenses that change each month.

Which of these is another name for a Net Worth Statement?

What is the earliest age you can withdraw retirement money without the 10% early penalty?

What type of retirement plan has AFTER-TAX contributions?

Expenses that you can plan for (part of your budget, can be either fixed or variable).

Car Payment and Rent are examples.

Which depository account is NOT liquid (has liquidity risk)?

Which one is NOT an asset?

Which of the following is a short term goal?

What form do you receive in late January that provides info on your earnings and taxes paid?

What do you complete BEFORE starting a new job to calculate allowances for tax withholding?

When do you have to file your tax form 1040 to avoid late penalty?

Anything of value that you own.